The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1887-11-29
ETHE NATIONAL CAPITAL.
Gossip About the New Basis for the
National Bank Circulation.

WASHINGTON, Nov. 2S-The gentlemen
expected to constitute the House committee
on banking and currency express the opinion
that the new basis of national bank circula-
tion will be provided at the approaching
session in the form of an issue of bonds to
run from 90 to 100 years, bearing about q
per cent. interest. Statistics show the num-
Der of new national banks has greatly
diminished in the past few years. Those
started generally deposit minimum of
bonds to secure circulation. This is because
four and four and half per cent bonds are
worth premiums too high TO make the matter
of circulation of the banks desirable in
yestment.
Telephone Litigation.
Thurday the Commissioner of Patents will
hear arguments upon the petition of Elisha
Gray to amend the original application for
patent to an electric telephone, filed October
20, 1877, by inserting the word metallic, to
make the claim specifically for a metallic
diaphragm. Should the petition be granted.
new interference would be declared, thus re-
opening the original telephone question.
The Nicaragua Canal.
Civil Engineer A. G. Menocal, United
States Navy, chief engineer of the Nicaragua
Canal Construction Company, has issued his
instructions to Civil Engineer Peary, his
principal assistant, who will have immediate
charge of the survey in the field until Mr..
MenOcal goes to Nicaragua, which he will do
during the coming winter. Much of the de-
tail of the work is left to Mr. Peary's en-
gineering Skill and he is not bound closely
to particular line of action, as 1t would be
impossible to foresee and provide for various
contingencies that may arise during the
prosecution of the work.
The Interstate Law.
Mr.. Reagan. of Texas, one of the trainers
of the Interstate Commerce law, says the
Commissioners have no right to suspend the
law for 80 days, but generally he thinks they
have done well. He says: "The law has
proved of some benefit; the Standard Oil
hearings before the commission make it ap-
pear as if there had been plenty of viola
tions, but / feel reasonably well satisfied
that IL the law is not etfectual it is becoming
so as rapidly as possible have no general
brought up in Congress for any amendments
or have you any changes to suggestP" 1T
is impossible to tell just now whether there
will be disposition to take 1t up again or
not. If the commission persists in such
wide rulings as to their own powers, / shall
object, and introduce an amendment re-
stricting them. Otherwise think the meas
ure is ali right as it now stands. Its main
provisions have proved practicable and val
Maine Matters.
The President today appointed William r.
G. Estes postmaster at Skowhegan, Me.
The President today appointed Stephen S.
Mitchell to be Collector of Customs at Saco,
Me.
Hattie E. Colson was today appointed post
mistress at Great Pond,. Hancock county,
vice Nettie +. Colson, resigned
The following pensions have been award
ed to residents of Maine:
ORIGINAL.
Isaac Worden, Jonesport
VIM Emerson, Bangor.
INCREASE
Alanson G. Hail. Monmouth.
Frank K. Severance, Togus.
N. nj. Howe and Oscar Thomas, Lee.
John M. Sanders, Surrey.
John r.. Pollard, Waterville.
Martin Welch, Augusta.
j. ID. Stanwood, Winn.
RESTORATION
John f. Ames, Kenduskeag